Palash Securities Ltd's stake in Morton Foods Ltd reduces to 69.34%

Morton Foods Limited ("MFL')(Formerly known as "Allahabad Canning Limited') a material unlisted subsidiary of Palash Securities Limited has raised capital by by issuing further 64,70,000 (Sixty Four Lakhs Seventy Thousands only) number of equity shares of face value of Rs. 10 each at a premium of Rs. 24 each aggregating Rs. 21,99,80,000/- (Rupees Twenty One Crore Ninety Nine Lakhs Eighty Thousand only).

Pursuant to such allotment by MFL, Palash Securities Limited which was holding 100% of the equity shares of MFL through its subsidiaries, now the shareholding has been reduced to 69.34%.

Source : Equity Bulls

Keywords

PalashSecurities MortonFoods StakeReduction